Invenomic Capital Management LP Increases Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Invenomic Capital Management LP grew its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 28.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 601,490 shares of the business services provider's stock after acquiring an additional 132,055 shares during the period. Shutterstock comprises about 0.9% of Invenomic Capital Management LP's holdings, making the stock its 28th largest holding. Invenomic Capital Management LP owned about 1.73% of Shutterstock worth $18,255,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after acquiring an additional 35,632 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Shutterstock by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider's stock worth $545,000 after purchasing an additional 894 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Shutterstock by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock worth $1,066,000 after buying an additional 532 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Shutterstock by 14.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider's stock worth $919,000 after buying an additional 3,734 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in Shutterstock by 15.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider's stock valued at $407,000 after buying an additional 1,794 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Analyst Ratings Changes

SSTK has been the subject of several analyst reports. StockNews.com initiated coverage on Shutterstock in a report on Tuesday. They set a "buy" rating for the company. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC decreased their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.33.

Shutterstock Stock Performance

NYSE:SSTK traded down $0.24 during mid-day trading on Friday, reaching $18.65. The company's stock had a trading volume of 244,495 shares, compared to its average volume of 531,247. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a market cap of $657.49 million, a P/E ratio of 18.28 and a beta of 1.10. The firm's fifty day moving average price is $17.50 and its two-hundred day moving average price is $25.51. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The company had revenue of $242.62 million during the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 7.08%. Shutterstock's dividend payout ratio is presently 121.10%.

About Shutterstock

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.